In 2021, llumina reported revenue of more than $4.5 billion, an increase of 40% year over year.
Despite an active review by regulators, Illumina surprised the industry by completing the acquisition of blood testing company Grail - a move that helped push its stock price down 40% and could still be overturned.
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Sequencing volumes continue to grow in research and are growing rapidly in clinical applications, with the key drivers including whole-genome sequencing, cancer testing, and recurrence monitoring. With an installed base of more than 20,000 sequencing systems, Illumina holds more than 90% of the global market. Illumina is the industry leader in using short-read sequencing technology, which breaks DNA into short segments to aid in analysis for genetic research, testing, and medical treatment. The gene-editing market is projected to reach $15 billion by 2028. Gene-editing companies have the potential to treat, and even cure, diseases caused by genetic variants.
Genetic editing: The promise of gene editing is that it acts like “molecular scissors” by targeting a specific variant in the DNA, slicing it out by cutting the nucleotides holding the defect in place, and then filling in the gap. With one in six people having a genetic variant underlying their health condition, the market for testing services is projected to be more than $17 billion by 2026. Genetic testing and diagnostics: Testing and diagnostic companies use sequencing data to identify specific genetic variations and map them to known conditions. The overall sequencing market is projected to grow to $35 billion by 2030. Technology advancements have decreased sequencing costs by 28% per year. Sequencing underpins genomic research and is a critical component of genetic testing. Sequencing is the process of reading the 3.05 billion base pair sequences looking for variants (sometimes called defects) where the sequence is missing or different from normal. Genetic sequencing and analysis: Sequencing companies are the "engines" of genetic research. In 2022, investors can look to better returns from genomics companies in three broad categories: Innovation investors, such as Cathie Wood of ARK Investment Management, believe these advances are creating a "Genomic Revolution." Although there were positive developments from many genomic companies in 2021, the financial rewards for investors were deferred as the S&P Biotechnology Select Industry Index fell 18%. With technology advancements dramatically improving the cost, accuracy, and time to map a person’s entire genome, many rapidly growing companies are emerging in the genomics sector. Genomics is the study of genes and their functions.
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